Dreame's EV Venture "Stellar Plan" to Be Wound Down; Employees to Receive Severance of N+0.5 to N+1.5

Dreame Technology has decided to shut down its automotive business and deregister the related entity under its "Stellar Project." Stellar Project (Shanghai) Automotive Technology Co., Ltd. was registered in January 2025, and all employee labor contracts were signed with this company. The automotive team has been reduced from a peak of nearly 1,000 employees to just a few dozen, primarily consisting of staff from finance, legal, and HR departments handling final tasks such as settling supplier debts and company deregistration. Severance packages are being offered according to the following standards: N+0.5 for employees with less than six months of service, N+1 for those with less than one year, and N+1.5 for those with at least one year of tenure. Meanwhile, senior executives from Dreame Automotive have actively begun seeking external job opportunities, and project staff have experienced mass resignations and layoffs, leaving numerous workstations vacant. Dreame Technology initially announced its entry into the automotive sector on August 28, 2025, with plans to unveil multiple concept vehicles in the first half of 2026.